Natural Gas approaches July low

Source: Dukascopy Bank SA


The July and August surge of the price for natural gas ended at the start of September. By the end of the month, the price had reached the 6.50 mark and appeared to have no support as low as the summer low level zone near 5.50.

In the case of the price finding support, note that it respects both the 50 and 200-day simple moving averages and round price levels. Namely, the 7.00, 7.50 and 8.00 levels have acted as support and resistance.

On the other hand, a decline of the commodity could be slowed down by the 6.50 and 6.00 levels, before the 5.50 zone would be reached.
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